HB 5002 Summary

• Increases motor fuel tax from 8 cents to 16 cents per gallon for most fuel; aviation gasoline increases from 4.7 cents to 7 cents per gallon; watercraft fuel increases from 5 cents to 10 cents per gallon.

• Increases cigarette excise tax to 112 mills per cigarette and tobacco products excise tax from 75 percent to 100 percent of wholesale price; creates new 75 percent excise tax on electronic smoking products with required "CONTAINS NICOTINE" labeling.

• Increases alcoholic beverage excise taxes: malt beverages and cider from $1.07 to $2.14 per gallon; wine from $2.50 to $5 per gallon; distilled spirits from $12.80 to $25.60 per gallon; reduces small brewery tax rate from 35 cents to 70 cents per gallon for first 60,000 barrels.

• Modifies mining license tax by reducing new operation exemption from 3.5 years to 2 years after production begins and increasing the top tax rate from 7 percent to 9 percent on net income over $100,000; removes minimum and maximum fee restrictions for fishing entry and interim-use permits.

• Increases fisheries business tax rates and fishery resource landing tax by one percentage point across categories; requires 1 percent of fishery tax revenue deposited to general fund with remainder distributed to local governments.